Markets turn red on profit booking
Opening on an upbeat note on continued buying interest in blue-chip stocks tracking firm global markets, the benchmark BSE Sensex surged over 18,800 points in opening trade. But it retracted sharply on selling pressure amid a bout of volatility. The market breadth was strong.
At 11.40 am, the Sensex is down 96.57 points or 0.52% at 18396.27, and the Nifty down 15.30 points or 0.28% at 5458.40.
Reliance Energy,surged 5.31% to Rs 1604.The stock surged after chairman Anil Ambani informed media that Reliance Power will be valued nearly two times its holding company, Reliance Energy, after the mega initial public offer. In its prospectus, Reliance Power has said that it would dilute 11.5% of the post-issue equity.
Satyam Computer Services gained 3.78% to Rs 479.25.Bharti Airtel gained 2.15% to Rs 1027. The stock climbed up on value buying after a sharp recent fall, hit by on concerns that the launch of nationwide GSM services by rival Reliance Communications would eat into its market share.
Meanwhile, Reliance Communications rose 1.01% to Rs 763.10. On Friday, 19 October 2007, it got the government's nod to launch nationwide GSM-based cellular services from the Department of Telecom (DoT).
ACC (up 2.35% to Rs 1090.15), HDFC (up 2% to Rs 2617), and Tata Steel (up 2.31% to Rs 916.10) were the other gainers from the Sensex pack.
Reliance Industries (RIL) expanded 0.15% to Rs 2605.50 on 1.85 lakh shares. It hit an intra-day high if Rs 2651 in early trade. As a part of a restructuring exercise, RIL has reportedly decided to hive off Reliance Fresh into a separate company, Ranger Farm, for single point accountability. Reliance Fresh sells food, fruits and vegetables and consumer products.
India’s largest cigarette manufacturer ITC lost 0.62% to Rs 183.90 on 76,266 shares. It was the top loser from the Sensex pack.Dr Reddy’s (down 0.46% to Rs 632) and ONGC (down 0.63% to Rs 1137) were the other losers.
At 11.40 am, the Sensex is down 96.57 points or 0.52% at 18396.27, and the Nifty down 15.30 points or 0.28% at 5458.40.
Reliance Energy,surged 5.31% to Rs 1604.The stock surged after chairman Anil Ambani informed media that Reliance Power will be valued nearly two times its holding company, Reliance Energy, after the mega initial public offer. In its prospectus, Reliance Power has said that it would dilute 11.5% of the post-issue equity.
Satyam Computer Services gained 3.78% to Rs 479.25.Bharti Airtel gained 2.15% to Rs 1027. The stock climbed up on value buying after a sharp recent fall, hit by on concerns that the launch of nationwide GSM services by rival Reliance Communications would eat into its market share.
Meanwhile, Reliance Communications rose 1.01% to Rs 763.10. On Friday, 19 October 2007, it got the government's nod to launch nationwide GSM-based cellular services from the Department of Telecom (DoT).
ACC (up 2.35% to Rs 1090.15), HDFC (up 2% to Rs 2617), and Tata Steel (up 2.31% to Rs 916.10) were the other gainers from the Sensex pack.
Reliance Industries (RIL) expanded 0.15% to Rs 2605.50 on 1.85 lakh shares. It hit an intra-day high if Rs 2651 in early trade. As a part of a restructuring exercise, RIL has reportedly decided to hive off Reliance Fresh into a separate company, Ranger Farm, for single point accountability. Reliance Fresh sells food, fruits and vegetables and consumer products.
India’s largest cigarette manufacturer ITC lost 0.62% to Rs 183.90 on 76,266 shares. It was the top loser from the Sensex pack.Dr Reddy’s (down 0.46% to Rs 632) and ONGC (down 0.63% to Rs 1137) were the other losers.
Labels: Nifty.Sensex
posted by SY at 12:12 PM
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